Replies to This Discussion

Permalink Reply by Joe C. on April 19, 2022 at 12:34am

That is a hard one to answer. Need some more information. 

What State, County and Township/District are you located in? 

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Permalink Reply by Frank De Fede on April 19, 2022 at 2:46am

Hello,

Thanks for the response.

Ohio, Harrison County, Green Township,

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Permalink Reply by Joe C. on April 19, 2022 at 9:39am

Lease it first, collect a good bonus, $7000 to $8000 a net mineral ac, get a good lease with 18 to 19% gross, Pugh, better Shut in, Warranty of title and Hold Harmless. After you get your bonus money, then shop it around to sell IF the operator isn't going to drill in a 4 to 5 year time frame.

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Permalink Reply by Frank De Fede on April 22, 2022 at 4:51am

They offered 500 an acre, 15% royalty I got them upto 1,000 an acre, 18% royalty.

I have had offers to purchase at $7,500 an acre.

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Permalink Reply by Joe C. on April 26, 2022 at 9:22am

I sent you a friend request. I can send you a message once we're connected.

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Permalink Reply by Frank De Fede on April 22, 2022 at 4:57am

What is pugh, better Shut in, Warranty of title and Hold?

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Permalink Reply by Frank De Fede on April 22, 2022 at 4:58am

Harmless

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Permalink Reply by pinehill on April 22, 2022 at 5:49am

There used to be sample leases on line. Might try auditors site for lease wording.  Was told some we’re getting around 2000 but think 15%.  You can look terms up online for an explanation.  The biggest thing I see talked about is no deductions.  See if Dott has any info on current leases she could share.
  We have an older lease from 10 years ago that was not renewed. Back then they were all about how good market enhancements were.  That turned out to be a way for the company  to take massive deductions.  It is probably worth your while if they are talking to you to get a lawyer to help. What you spend now will pay back big time in the future.  They must be planning on drilling soon in your area.  They didn’t even want to talk to us.  Good luck. 

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Permalink Reply by Dott on April 22, 2022 at 12:23pm

Frank

When was the last time you contacted EAP to see if they were interested in leasing you? Has it been in the last 12 months?

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Permalink Reply by Frank De Fede on April 22, 2022 at 12:28pm

Hi Dot,

Is EAP Encino?  

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Permalink Reply by Dott on April 22, 2022 at 12:35pm

EAP is a partner to Encino. Encino runs their books and business side etc. But EAP is a separate company. I think EAP got your lease from Chesapeake a few years ago and did not renew it but things have changed recently and they are drilling around your area with new leases. If you contacted Encino and they were not interested you may want to contact EAP. Again I have the Landman's info if you want it.

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Permalink Reply by Frank De Fede on April 22, 2022 at 4:03pm

Hi Dot,

Thanks, yes please give me that information.

Thanks
Frank

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